Bleakley Financial Group LLC Lowers Position in EQT Co. (NYSE:EQT)

Bleakley Financial Group LLC reduced its position in shares of EQT Co. (NYSE:EQT - Free Report) by 82.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,497 shares of the oil and gas producer's stock after selling 114,368 shares during the quarter. Bleakley Financial Group LLC's holdings in EQT were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of EQT during the second quarter worth about $28,000. Hexagon Capital Partners LLC lifted its holdings in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 904 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 908 shares in the last quarter. Blue Trust Inc. boosted its position in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 598 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in EQT by 224.8% during the third quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer's stock worth $38,000 after buying an additional 717 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EQT shares. Mizuho cut their price objective on shares of EQT from $43.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, October 4th. Piper Sandler downgraded shares of EQT from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Scotiabank increased their price objective on shares of EQT from $54.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Friday, July 12th. BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Finally, UBS Group dropped their price target on EQT from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus target price of $42.18.

EQT Stock Performance

EQT traded down $0.13 on Monday, hitting $36.36. The company's stock had a trading volume of 4,495,499 shares, compared to its average volume of 7,056,158. EQT Co. has a 12 month low of $30.02 and a 12 month high of $45.23. The firm has a market cap of $16.06 billion, a P/E ratio of 26.44 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The company's 50 day simple moving average is $34.39 and its 200-day simple moving average is $36.61.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned ($0.17) earnings per share. The business's revenue for the quarter was down 6.5% on a year-over-year basis. Analysts forecast that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Wednesday, November 6th. EQT's payout ratio is 45.65%.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.